Union Bank of India Car Loan- Eligibility & EMI Calculator

Want to fulfill the dream of car, but not getting the exact information on the interest rate, processing fee, prepayment charges of lenders. Don’t worry as you will be the provided the same in ample to help you choose the lender that will offer the pocket-friendly loan. In our edition of car loan lenders, we have today picked Union Bank of India, a major public sector bank. The bank finances car loan through a scheme known as Union Miles. Let’s see the scheme in detail.

Last 1 year ITR, Form 16/Letter From Employer, Salary Slips for Last 6 months

ITR for last 3 years, P&L, Balance Sheet

Address Proof

Electricity Bill/Telephone Bill/Ration Card/Any Other Valid Proof

Electricity Bill/Telephone Bill/Ration Card/Any Other Valid Proof

Proforma Invoice

Yes

Yes

3 Photographs

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Yes

Union Bank of India Car Loan EMI Calculator

It is important to get a sight of the EMI amount on the loan amount to be availed by you. Being aware of the said amount will create a platform for an easy and seamless repayment of the car loan. Which will help your case in this regard? It is the car loan EMI calculator of the bank that will let you know the EMI in addition to overall interest outgo, and the total payment involving both interest and principal over the loan term. Suppose you are planning to avail a car loan of Rs. 5,00,000 from Union Bank of India for a period of 7 years and want to check the EMI and other variables over the loan term. You can take a look at the table below and set yourself for a bumpy-free car journey.

Table showing interests and EMIs on car loan of Rs 5,00,000 for different periods at Union Bank of India

You can access the car loan application form either online or by visiting the branch of Union Bank of India. The form has sections for salaried and self-employed. You need to fill personal and professional details, which will be then checked thoroughly by the bank post the submission of the application form. The bank will send an executive to your office and residence to check the authenticity of your application. Make sure you are present while the visit is on. If things go fine in the investigation, you will be provided a suitable loan amount to buy a car. However, if any discrepancy is found, the loan disbursal could get delayed by few more days than normal.

Disclaimer: The word ‘wish’ in the context of Wishfin.com is to be understood as an expression of desire or aspiration by the user, and not as a promise of fulfillment by Wishfin. We do not provide loans on our own, but merely ensure that your information is sent to the bank you have opted for. Wishfin has no sales team of its own. We just help you compare loans. We do not guarantee any loans as the loans are sanctioned by Banks and Nbfcs as per their discretion and decision. Read More